Tengram Capital Partners Acquires Lime Crime

June 20, 2018

Stacy Panagakis, the former general manager of Fresh, joins as Lime Crime's new CEO.

By Karen Wilhelmsen

Founded in 2008 by beauty entrepreneurs Doe Deere and Mark Dumbelton, color cosmetic brand Lime Crime is known for its whimsical, trend-setting, digitally savvy, cruelty-free and vegan products, which have pioneered such beauty trends as unicorn- and holographic-inspired makeup and vivid hair colors. It was recently announced that the company has been acquired by the private equity firm Tengram Capital Partners.

Stacy Panagakis, the former general manager of Fresh, joins Lime Crime as the company's CEO. Panagakis will work alongside COO Sasha Valentine, who has been with Lime Crime for eight years, and Deere, who will remain on the Board of Directors. Prior to Fresh, Panagakis has held executive positions at Origins Natural Resources, Stila Cosmetics, and Clinique.

Panagakis says of the new venture, "I'm delighted to be joining the company at this pivotal moment. Lime Crime is a millennial brand with a message that resonates with women everywhere–'it's OK to be bold, experiment and have fun!' The partnership with Tengram is an important next step in the brand's evolution, bringing deep industry expertise and greater opportunities to offer unicorns and women everywhere the Lime Crime magical universe. As we expand the brand's footprint and offerings, Lime Crime will continue to be a brand that stands apart, fulfilling its mission to revolutionize makeup, empower women and smash traditional boundaries."

"I founded Lime Crime on the belief that beauty is a form of freedom. We should all be allowed to express ourselves unapologetically."

—Doe Deere, founder, Lime Crime

Under Tengram, Lime Crime will continue to grow its presence in the beauty community by focusing on sales through its online store (limecrime.com) and its retail partnerships in the U.S. and U.K. with stores such as Bloomingdales, Riley Rose, Ulta.com, Cult Beauty, FeelUnique and Selfridges. Richard Gersten, a partner at Tengram, says, "Lime Crime is truly unique among beauty brands, with a powerful following and a deep understanding of its consumers and their expressive approach to cosmetics. We have tremendous appreciation for what Doe, Sasha Valentine and the team have built over the past ten years: a revolutionary brand that empowers consumers to express themselves and inspires them to push past the traditional limits of beauty. In an era of beauty brand proliferation, Lime Crime's authenticity and innovation stands above the rest. Lime Crime is a tremendous fit in our strong portfolio of beauty brands, and we look forward to leveraging our experience to help the Lime Crime team achieve its growth prospects."

With hip, vibrant products like Unicorn Lipsticks, Unicorn Hair dyes, Diamond Crushers lip toppers and Velvetines liquid matte lipsticks, the brand has become synonymous with pushing the limits of creativity in beauty and celebrating makeup artistry and unique self-expression. "I founded Lime Crime on the belief that beauty is a form of freedom. We should all be allowed to express ourselves unapologetically," founder Doe Deere says. "Over the last decade, unicorns all over the globe have taken that idea and made it their own, propelling us to where we are today. I am so proud of what we've built together and am confident Stacy, Sasha and the team will continue to build on this foundation to take Lime Crime to a whole new level!"